HKBN Ltd. — Director's Dealing 2025

May 12, 2025

Public Disclosure Form

SECURITIES AND

FUTURES COMMISSION

證券及期貨事務監察委員會

12 May 2025

Possible voluntary general offer

Disclosure of dealings in the shares of HKBN LTD.

The Executive received the following disclosure of securities dealings pursuant to Rule 22 of the Hong Kong Code on Takeovers and Mergers:

Party	Date	Description of relevant securities	Description of products	Nature of dealings	Number of reference securities to which the derivatives relate	Maturity date / closing out date	Reference price	Total amount paid / received	Resultant balance (including those of any person with whom there is an agreement or understanding)
J.P. Morgan Securities PLC	9 May 2025	Derivatives	Other types of products	Issue of a derivative	85,000	10 February 2026	$5.1332	$436,322.0000	23,091,523
		Derivatives	Other types of products	Issue of a derivative	500	27 February 2026	$5.1570	$2,578.5000	23,092,023
		Derivatives	Other types of products	Issue of a derivative	3,500	16 January 2029	$5.1317	$17,960.9500	23,095,523
		Derivatives	Other types of products	Issue of a derivative	100	16 January 2029	$5.1317	$513.1700	23,095,623

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SFC 證監會

Public Disclosure Form

End

Note:

J.P. Morgan Securities PLC is a Class (5) associate connected with the Offeree company.

Dealings were made for its own account.

J.P. Morgan Securities PLC is ultimately owned by JPMorgan Chase & Co..